BEIJING. Dec 31: China's economy grew by eight per cent to 8.9 trillion yuan (about 1.1 trillion US dollars) this year. suq)assing a trillion dollars for the first time at the current exchange rate, according to preliminary government statistics released Saturday China issues rides on trade with Taiwan. reports AFP.

The GDP growth rate surpassed last year's rate of 7.1 per cent and beat the government's target of seven per cent, the officialXlnhua news agency said, citing figures released by tb ■ National Bureau of Statis-

’"om 1996 to 2000. the country's GDP increased by an a' । •• of 8.3 per cent annual! nhtia said

In « first I 1 months ol this vear. iliistri.il output reached 257 I ilon dollars, up I 1.5 per cent from the same pTiod last

China Invested 43.5 billion dollars In renovating and upgrading radilioua) industries In the 1 1 -month period, an ln-cr asc of 17.2 per cent year-on-

The development of high-tech industries also accelerated, according to Xinhua.

Electronic and telecommunication products have become the largest manufacturing industry in China, with a growth rate over 20 per centage points higher than that of the sector as a whole. Xinhua said.

Restructuring of state-owned enterprises has shown results, according to government fig-ihe accumulated profits of China's industrial enterprises reached 44.7 billion dollars in the first 1 I months of this year, up 92 per cent from a year earlier From that figure, state-owiied companies reported combined profits of 25 billion dollars, up 1.4 times, an all-time record since 1990. Xinhua said.